If Capitaland cannot return back up to $2.33, this support will turn resistance and the stock price will be heading towards $1.964.

• Fundamentally the stock is under value base on NAV and PE ratio.
• Technically Capitaland stock chart is bearish.  The stock is on down trend and recently drop back into the down trend channel.
• Base on Macro-economy, Capitaland has exposure in China. There is a high probability of property bubble in property sector.
• Recent ABSD (Additional Buyer Stamp Duty) also dented the investing sentiment in property counter.

This post is orginally from My Stocks Investing Journey.

Capitaland is still trading in a down trend channel. Provided by big bad news to cause Capitaland to break the down trend support, it is expected Capitaland will have short rebound at the current level.

• Support at about $2.388 which is the down trend channel support and also 23.6% Fibonacci Support.
• Resistance at about $2.776 which is the down trend channel resistance and also the 38.2% Fibonacci Resistance.